Antofagasta Minerals to cut workforce as copper price bites

Chilean copper mining company Antofagasta Minerals said on Tuesday it was reducing its workforce by around 7% in order to cut costs, the latest victim of the recent rout in the copper market. Like its peers, Antofagasta, the operational division of London-listed Antofagasta, is battling a slide in commodity prices driven by slowing growth in China, the world's top consumer of industrial metals.